Okay. Unlike you people im going to provide an in depth analysis.
ICS does not need any physical buttons, Hence the galaxy nexus. And since samsung made the Nexus, they know full well what will work and won't. A home button doesn't make sense however i understand if they decided to implement it.
But the design is just too bland. After seeing numerous phones that look amazing (Xperia S, Razr, N9), i really doubt that samsung will just make it like another block, although it looks very thin.